Bipartisan bill streamlines the claims adjustment process so that individual claims adjusters can respond in the fastest and most cost-effective manner possible
"When disaster strikes, it is critical that consumers are able to reach their home insurance provider immediately and receive their insurance claim as quickly as possible," said Kustoff. "Unfortunately, when catastrophes occur, often thousands are affected at one time, overwhelming the select insurance adjusters in the area.
"The CLAIM Act would open doors for consumers to utilize independent claims adjusters in nearby states. It will also encourage the states to adopt uniform and reciprocal licensing procedures, allowing adjusters to use their home state for licensure. Most importantly, this bill respects states' rights and would ensure that each state keeps its independence to adopt rules as it sees fit."
Additionally, consumers are often forced to wait as independent claims adjusters face a myriad of inconsistent state licensing regulations that slow the process of approving funds. As a result, companies are forced to spend money on duplicative licensing rather than investing in new jobs and boosting the economy in the region. This overcomplicated system for filing insurance claims hurts consumers, as they are the ones paying for these costs in higher premiums.
The CLAIM Act will also simplify the process of obtaining an independent license for claims adjusting. Virtually all independent claims adjusters must get licenses for each state in which they work. Given the licensing complexities, it is common for adjusters to hold multiple state licenses, which is inefficient, harms job creation and requires adjusters to take time off from their job and travel to each state in which they seek a license.
This legislation would end this costly burden, and overall, streamline the claims adjustment process so that individual claims adjusters can respond in the fastest and most cost-effective manner possible.
Kustoff is a member of the
Read this original document at: https://kustoff.house.gov/media/press-releases/kustoff-introduces-bill-expand-options-insurance-claims-times-disaster